Krishnan Balakrishnan, the Chief Financial Officer at GoAir, said on Monday that the rising cost of jet fuel may force the airline to pass on the burden to passengers “at some point”.
Speaking to CNBC-TV18, Balakrishnan said that said that GoAir had been profitable for five years in a row and had even managed to finish in the green when Air Turbine Fuel had been USD 120 a barrel.
But he admitted that even at the current $57 a barrel, fuel costs were affecting everyone’s bottomlines. “Every rupee counts,” he said, adding that he did not expect ATF prices to rise beyond $60 per barrel in the next two to three years.
Shares of most aviation companies fell last Wednesday after Indian Oil Corp. Ltd increased aviation turbine fuel (ATF) prices by 2.9 percent.
06/02/17 Money Control
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Speaking to CNBC-TV18, Balakrishnan said that said that GoAir had been profitable for five years in a row and had even managed to finish in the green when Air Turbine Fuel had been USD 120 a barrel.
But he admitted that even at the current $57 a barrel, fuel costs were affecting everyone’s bottomlines. “Every rupee counts,” he said, adding that he did not expect ATF prices to rise beyond $60 per barrel in the next two to three years.
Shares of most aviation companies fell last Wednesday after Indian Oil Corp. Ltd increased aviation turbine fuel (ATF) prices by 2.9 percent.
06/02/17 Money Control
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